From the following ledger balances. Prepare profit and loss account and balance sheet for the year ended Purchase =75000 purchase return =4700 sales =175000 sales return =1000 carriage =1200 rent and rates =2500 stocks =15000 debtor =40000 salaries= 22500 wages =10800 plants and machineries =50000 furnitures =10000 cash in bank =29400 capital = 50000 credit hours = 25000 interest = 500 provision of doubtful Debt = 2200 Adjustments: 1. Closing Stock Ro.15, 000 2. Depreciate Plant and machinery by 10% and furniture by 15% 3. Interest accrued Ro.500 4. Probation for doubtful that to be maintained 2%